China’s imports of unwrought cobalt fell 6% month‑on‑month and exports dropped 38% month‑on‑month in July 2026.

In July 2026, China’s imports of unwrought cobalt stood at around 1,055 tonnes, down 6% month‑on‑month but up 83% year‑on‑year. By source country, the top three import origins for cobalt metal in July were Indonesia, Russia and Canada, with import volumes of 403 tonnes, 271 tonnes and 175 tonnes respectively.

In terms of trade modes, goods under customs special supervision zones accounted for approximately 795 tonnes, representing about 75% of July imports. These supplies mainly flowed into bonded warehouses in Zhejiang and Shanghai. Only roughly 259 tonnes entered domestic consumption channels via general trade. Bonded warehouses show obvious “reservoir” characteristics, leading to a certain divergence between import figures and real domestic demand.

For import prices, China’s average import price of unwrought cobalt reached USD 59,296 per tonne in July 2026, rising 13.53% month‑on‑month. Cumulative imports from January to July 2026 totalled 8,763 tonnes, surging 113% year‑on‑year.

On the export side, China exported about 313 tonnes of unwrought cobalt in July 2026, falling 38% month‑on‑month and 68% year‑on‑year. By destination, the top three export markets were the Netherlands, the United States and Japan, with shipments of 83 tonnes, 71 tonnes and 49 tonnes respectively.

Nearly 95% of monthly exports were goods under customs special supervision zones, dominated by re‑export flows among bonded areas. The average export price of unwrought cobalt stood at USD 56,505 per tonne in July 2026, down 5.16% month‑on‑month. Cumulative exports for January‑July 2026 amounted to 2,977 tonnes, dropping 76% year‑on‑year.